iShares U.S. Financial Services ETF (NYSEARCA:IYG) Short Interest Up 246.6% in May

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 83,747 shares, an increase of 246.6% from the May 14th total of 24,160 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 216,232 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of iShares U.S. Financial Services ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in IYG. JPMorgan Chase & Co. increased its stake in shares of iShares U.S. Financial Services ETF by 234.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after buying an additional 723,555 shares during the last quarter. OpenArc Corporate Advisory LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the 4th quarter worth approximately $55,635,000. Sagespring Wealth Partners LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the 4th quarter worth approximately $53,175,000. Dynasty Wealth Management LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the 4th quarter worth approximately $49,084,000. Finally, Kozak & Associates Inc. grew its position in shares of iShares U.S. Financial Services ETF by 30.8% in the 3rd quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock worth $35,875,000 after acquiring an additional 98,267 shares in the last quarter.

iShares U.S. Financial Services ETF Price Performance

Shares of NYSEARCA:IYG traded up $1.36 during midday trading on Friday, reaching $90.27. The company had a trading volume of 87,603 shares, compared to its average volume of 124,346. The stock’s fifty day moving average price is $87.04 and its 200-day moving average price is $88.21. The stock has a market capitalization of $2.06 billion, a P/E ratio of 18.95 and a beta of 0.97. iShares U.S. Financial Services ETF has a one year low of $79.86 and a one year high of $95.75.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.